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Today’s surge in shares for Vodafone Idea (Vi) was driven by renewed optimism for the potential relief of long-standing adjusted gross revenue (AGR) dues. After Union Telecom Minister Jyotiraditya Scindia indicated that the government is actively reviewing the legal avenues for supporting the debt-laden telecom operator, shares jumped almost 4%.
In an interview with CNBC-TV18, Scindia stated that the Centre is awaiting a formal application from Vodafone Idea before proceeding with any intervention related to AGR dues.
"Judgment needs to be evaluated from a point of view of what can be done and what cannot be done. We cannot cross the border of the SC judgment," he told the news channel.
He added that the ministry expects to complete its examination and issue recommendations in the coming weeks, suggesting that a relief package could be announced before year-end.
In October 2025, Vodafone Idea received a considerable boost when the Supreme Court allowed the government to revisit and reconcile all outstanding AGR dues instead of just those from FY2016-17.
The development is crucial for Vi, which reported total AGR liabilities of around Rs. 78,500 crore as of September 2025.
The clarification now gives the Centre the authority to evaluate the company’s entire AGR dues, including interest and penalties.
As per filings, additional AGR dues alone amount to Rs. 9,450 crore, while the cumulative demand exceeds Rs. 83,500 crore.
Following Scindia’s remarks, Vodafone Idea shares hit an intraday high of Rs. 10.32, gaining nearly 4% on the NSE. As of 12:05 PM, the stock was trading at Rs. 10.15, up 2.22%.
The telecom stock had a strong performance with 57% growth in 3 months and 45% over 6 months, as the anticipation for AGR relief boosts the confidence of investors and gives them more operational visibility.
The company currently has a market capitalisation of over Rs. 1.10 lakh crore.
Shares of Indus Towers, a key infrastructure provider to Vodafone Idea, also gained more than 1%, trading at Rs. 401.20.
Since Vodafone Idea rents a large volume of telecom towers from Indus, any improvement in Vi’s financial position directly enhances revenue stability for Indus Towers.
Also Read: Vodafone Idea Share Price Falls Ahead of Supreme Court Hearing on AGR Dues
The government has begun examining the legal feasibility of offering support, and the Supreme Court also ruled that Vodafone Idea can have its dues reassessed; analysts believe that the coming weeks will be pivotal for Vodafone Idea in terms of its future trajectory.
Investors will be focused on the recommendations from the government and Vi’s formal submission, which could shape the company’s financial path.
